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Running head: COMPANY’S MARKETING STRATEGIES 1

COMPANY’S MARKETING STRATEGIES 9

Company’s marketing strategies

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Introduction

The motive of life straw company is to provide water that is safe for drinking. Contaminated water is known to be a source of many illnesses. The company has designed its product to appear in a decorated container and also to be appealing to the population, especially sportsmen and women, school-going children, parents, and all. The company has also adopted a marketing strategy in the form of a marketing statement that can be referred to as a mission statement whereby pitchers are fitted with a new level of protection, prices in the market are being reduced from around$40 to about $28 (Alsem, 2019). A drop in price makes sure and allows even the small earners to be able to purchase the commodity in the prevailing market price. As a marketing tool, the mission and vision of the company are also vital since they have stated that they make water safe for drinking. Even as a marketing strategy, they noted that every product managed to be sold or disposed of to clients. A school-going child is entitled to a safe water supply for the entire school year. The motive of the company is to provide safe water for drinking and domestic use (Dobkin, 2007). By clean water supply, they tend to significantly reduce the diseases caused by contaminated water of water that is unsaved or polluted water. It is important to note that high-performance purification technology can remove parasites, bacteria, micro plastics hence purifying water. Purification cartridges enhance the water purification and built-in backwashing system, 5-liter gravity bag with quick –connected hose. In the company's mission of giving back to society, the product gives one product, one school going child, one year of clean water supply (Baxi, 2018).

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Marketing Tactics

The company is not only involved in only a single chain of products. It is involved in many other chains of production and services which are appealing though the customers who already exist and the prospect clients too. They have varied life straw family 1st and 2nd flex, mission, play, community, and universal. I believe that having a diversified market plays a vital role in ensuring the sales remain high and can increase revenues (Baxi, 2018). Diversified products have a competitive edge since is one product is failing in the market. The other product will serve as a substitute and compensate for the low sales witnessed. The sales have improved as a result of the need to clean water. Via the giving back to the social program, the company has managed to give safe water to over 1 million children worldwide. Having a duty to serve and give back to society can improve the sales and by having a well -known name and a good reputation Just like any other companies, the life straw company has been branding their products and especially in the products self. Coloring of the premises has made such that it attracts many due to it being conspicuous. The company also has an advanced option in substituting a lack of bottled water. They have even made available portable water purifiers, which has also become a vital substitute (Dobkin, 2007). The effort they have put in their service and product delivery his not gone unrewarded, and BBC had named their product as a robust and powerful weapon against African diseases. Another media company, CNN, quoted, “Life straw saves those without access to clean Drinking water." The company can also take advantage of the publicity that has been made possible by BBC and CNN because the information reaches many people for free. I prefer the company to start and build up a rapport with several media houses to get advertisement pages and chances for free, especially with the use of black pages and the fame of the company to the clients. IT is also good to note that the company can also rely on the media facilities and the knowledge they have in uploading information on social media where they can even campaign for households, families, and schools were school-going children can use clean water. Also, parastatals and controllers of buss terminus must make use of the life straw products to ensure the health safety of their clients from diseases that can be brought about by contaminated water (Baxi, 2018).

Marketing communication strategy

Marketing communication strategy refers to the policies that are used by the companies or organizations or even individuals to attain their intention of reaching a targeted market. The communication to achieve the desired targeted market is not only done via a single channel, but they also exist many ways of communication. The notification must include the message, the medium, the target, and the channel (K.Usharani, 2008). Marketing communication strategy is always ensured by having funds available or a set-aside budget the best way we have tried to communicate strategically is that we have built a good relationship with a journalist who offers us press coverage, guest posts, and also black links. Adherence to the “four Ps” of place, price, product, and promotion is mandatory. Having a well-established public relation ensures awareness among the clients on the existence and availability and also the offers that are being offered. This communication strategy depends on the budget; otherwise, if the management decides to take the initiative on their own without budgeting is bound to fail. The most and essential component of the marketing communication strategy has a rapport with the media people, having a budget, and identifying the best way to convey the information to the targeted customers (Alsem, 2019). In the advertisement, the choice of colors that are attractive and conspicuous will ensure that it standout hence, even a new person in town will see that there is something unique, and he will want to know. Having a good rapport with the media will increase the chances and frequency of our advert to be aired and shared. This form of advertisement is cheaper and efficient since the painting of the premises is not that frequent and lasts longer while having media coverage increases the number of audiences. The information is not easily forgotten. Psychologist says that report that is said and accompanied by pictorials have a semi-permanent or permanent residence in the brain. Having to advertise our products on the media, especially our packaging and branding, is already a proven working strategy.

Sales promotion is another strategy that we have been putting in place. In our promotional activities, we offer discounts and ensure that customers can see how that value of their money is acquired. There are those clients that are eligible for free water purifiers since they have been playing a part in helping the company achieve its goals. He company has been rewarding and giving free purifiers and holding containers to those who return malfunctioning or broken containers. This marketing strategy can solve the problem associated with a lack of trust in the goods since immediately a client notices malfunctions he can return to the distributor and be given a new one with no real cost incurred (Baxi, 2018).

We collaborate with environmentally friendly organizations to promote our products since we encourage proper disposal of used boxes and encourage recycling to reduce the plastics in the environment. Our slogan of we make water safe to drink plays a crucial and fundamental role in advertising and marketing since there is a value for money by putting the money which would have been used in seeking treatment can be used in another way that is more important like investing for future benefits. Sales promotion is a crucial aspect of marketing since it creates awareness of the product's existence or the company’s existence to already existing clients and new targets. During promotions, information about the product is conveyed, and any changes regarding packaging and prices are communicated in detail (K.Usharani, 2008). Other sales promotion we have adopted includes giving out printed and personalized t-shirts and key holders. Sales promotion is not only done in our main branches but even in our satellite branches and other notable distributors (Dobkin, 2007).

Database marketing is marketing kind off that is direct to the clients via the use of databases to the already existing customers and potential or targeted customers to achieve a personalized communication to promote the product or for the marketing reasons.it is carried out in many forms of communication such as direct marketing. It is an essential strategy that allows one to make use of marketing activities, which is ensured by a comprehensive analysis of already acquired data. It is possible to streamline the marketing activities in delivering essential messages to a particular market segment via the channels they already interact with. On database marketing, we are able, and it is possible to get the client's information, especially the already existing clients and potential by having a personalized communication is easy to deliver and even get sensitive information (Alsem, 2019). For attraction and retaining of customers, the personal information obtained like transaction history, address, and full names help in analysis to identify the trend. Having a customer’s purchase trend and history plays a vital role in the planning for the future. Email, catalog, and brochures are availed to the available list of clients with a motive of trying to get or even evoke a positive response. It takes the strategy a step ahead in attempting to understand the most efficient marketing strategy with the best result for clients. And use the information via insights to fulfill the client's needs through the best channel (Dobkin, 2007). Database marketing boosts and helps the company in various ways, including Full and precise identification of customer groups based on loyalty. Identification of regular purchasers and, medium and occasional is critical.IT also makes it possible to create the best-personalized messages for all kinds of client's prospective clients and even the existing ones. The mode helps in the identification of the best time that can be used to engage the customers. IT makes it possible to create and improve the customer segment that is based on the segmentation of behavior, demographics, and even personal interest. The utilization of the model makes it possible for the company to avoid wastage in that they don’t spend money on the clients who are unlikely to respond hence saving resources like money and time. Via database marketing the company can provide all angle clients interaction with the brand of the product and increase sales and awareness about the product (Baxi, 2018).

Another important marketing strategy is direct marketing. Direct marketing can involve the many forms of marketing channels like direct mailing, social and viral media, telemarketing, etc. Direct marketing involves direct sales to clients hence enabling the creation of direct contact between the company and the client. Having a direct mail to the clients and clients having the company mail plays a vital role in conveying and receiving vital information. The changes in prices and new stations being opened can be communicated via emails. Also, changes in all aspects, including the introduction of new products is easily communicated via personal emails, which deliver the message to the intended person and at a less costly activity (Dobkin, 2007).

Mobile marketing refers to multi-channel marketing that is digitally in its platform, and the strategy aims at reaching a target audience via the use of their tablets and smartphones and any other mobile device. They can even use MMS, social media, emails, and other applications IT has been proven that mobile phones can disrupt how people think and behave and engage with brands. It is an interactive multichannel that is used in promoting the services and products from phones and mobile devices (Alsem, 2019). Usage includes the use of technology, billboards, or trade show. Online and social media marketing is also a vital strategy in which it plays an essential role in marketing in which information reaches many potential clients who are on a social media page like Facebook. At a cheaper cost, .it is a reliable source of marketing since information reaches many people in a different location; it does not discriminate on the demographic structure. It reaches all the intended and unintended people (Baxi, 2018).

The company can also use personal sell in which clients can be dealt with by company agents distributed all over, they are knowledgeable in in-depth rooted information and the product, and they act on behalf of the company. Personal sell is vital since clients and the company itself have a chance to interact directly, creating a rapport. Experiences and social events also play an essential role in marketing since people get to know of the company's existence and are happy when being associated with the company via the picture it prints during those social events. Some of the social events can include motor races and funding community work (Alsem, 2019).

References

ALIGNING MARKETING TACTICS WITH INFLUENCING FACTORS. (2017). Marketing Management For Non-Marketing Managers, 91-105. doi:10.1002/9781119449355.ch6

Alsem, K. J. (2019). Marketing objectives and marketing strategies. Applied Strategic Marketing, 277-322. doi:10.4324/9780429823374-14

Baxi, N. K. (2018). Creative Marketing Tactics. Scotts Valley, CA: Createspace Independent Publishing Platform.

Dobkin, J. (2007). Direct Marketing Strategies: Forget Theory - Here's What Really Works! Danielle Adams Publishing.

K.Usharani. (2008). Marketing Strategies & Financial Viability Of Self Help Groups. Sarup & Sons.